AMD: Server CPU revenue surpasses Intel for the first time, potential market doubles to $120 billion, but the true GPU boom is still in the second half of the year. 富途牛牛
AMD: Server CPU revenue surpasses Intel for the first time, potential market doubles to $120 billion, but the true GPU boom is still in the second half of the year. 富途牛牛
The management team is increasing buybacks, in a sign that they think shares are undervalued. *Stock prices used were the afternoon prices of May 3, 2026. The video was published on May 5, 2026. Continue reading
The management team is increasing buybacks, in a sign that they think shares are undervalued. *Stock prices used were the afternoon prices of May 3, 2026. The video was published on May 5, 2026. Continue reading
The technology segment is a laggard for SoFi (NASDAQ: SOFI) . *Stock prices used were the afternoon prices of May 3, 2026. The video was published on May 5, 2026. Continue reading
The technology segment is a laggard for SoFi (NASDAQ: SOFI) . *Stock prices used were the afternoon prices of May 3, 2026. The video was published on May 5, 2026. Continue reading
Intel is a leading semiconductor manufacturer that long dominated the global CPU market but has faced challenges as competitors advance in AI and chip technology. Britannica
Intel is a leading semiconductor manufacturer that long dominated the global CPU market but has faced challenges as competitors advance in AI and chip technology. Britannica
Meta (NASDAQ: META) said it will spend an additional $10 billion on AI, above previous estimates. *Stock prices used were the afternoon prices of May 3, 2026. The video was published on May 5, 2026. Continue reading
Meta (NASDAQ: META) said it will spend an additional $10 billion on AI, above previous estimates. *Stock prices used were the afternoon prices of May 3, 2026. The video was published on May 5, 2026. Continue reading
Getty Images Nova Minerals ( NVA ) is the stock that I have had a love-hate relationship with since October when I first wrote about it. At the time I really believed in their turning point story based on the Estelle Gold & Critical Minerals project in Alaska, the Port MacKenzie antimony refinery, RPM, and Korbel gold potential. Let's not forget the potential U.S. strategic backing. The company lo...
Getty Images Nova Minerals ( NVA ) is the stock that I have had a love-hate relationship with since October when I first wrote about it. At the time I really believed in their turning point story based on the Estelle Gold & Critical Minerals project in Alaska, the Port MacKenzie antimony refinery, RPM, and Korbel gold potential. Let's not forget the potential U.S. strategic backing. The company looked like a good play, and I rated it as a buy because it looked like the market started pricing in the antimony side and potential U.S. supply chain. However, the reality hit me hard, which is quite common when you invest in the mining sector. I admit my mistake with this one. Ironically, despite the fall in share price, the business itself got stronger. The biggest win was in fact $43.4 million in Defense Production Act financing for the antimony trisulfide supply chain. This capital was not dilutive and was the catalyst I was waiting for. The balance also looks better; they have around A$47 million in cash and access to more than A$89 million. However, my mistake was costly and was very simple. Permits, grants, and drilling results come at a cost. The market these days likes to sell the news, and dilution was inevitable. Financial Position Financials is exactly the place where most of the changes happened since my first article. Just H1 2025 results did not look good on profitability, to be fair, because the company had an A$11.26 million net loss compared to A$1.92 million a year ago. But the loss is not that important when we see that the company's activity clearly increased. In reality, buying it for financials would not be that great of an idea, because on the Lassonde Curve, the company is very young. So, that big change I mentioned earlier was liquidity. In 2026 the company had A$47 million in cash and another A$40.3 million remaining DoW grant financing, around A$2.1 million in liquid investments, and no debt. Meaning that the overall liquidity was around A$89.4 m...
bombermoon/iStock via Getty Images Dear Partners, Protean Small Cap returned 7.5% in April. The benchmark index rose 3.6%. Since launching in June 2023, the fund has gained 67.6%. The Carnegie Nordic Small Cap Index is up 26.5% in the same period. The hedge fund Protean Select returned 1.7% in April. It now manages 994m SEK. When the fund reaches 1bn SEK, we will announce closure for additional su...
bombermoon/iStock via Getty Images Dear Partners, Protean Small Cap returned 7.5% in April. The benchmark index rose 3.6%. Since launching in June 2023, the fund has gained 67.6%. The Carnegie Nordic Small Cap Index is up 26.5% in the same period. The hedge fund Protean Select returned 1.7% in April. It now manages 994m SEK. When the fund reaches 1bn SEK, we will announce closure for additional subscriptions. Protean Aktiesparfond Norden returned 3.9%. The benchmark index rose 5.4% Since inception, a little over a year ago, the fund is up 22.9%, and in the same period the VINX Nordic Cap index is up 18.9%. The fund now manages 1.9bn SEK. All figures are net of fees. This month's letter elaborates on the Rashomon effect: the concept made famous in Kurosawa's movie, how it's possible to view the same story from different viewpoints and come to opposing conclusions, and both (or all four, as is the case in the movie) be right. A quick mention of a new book. Some new additions and deletions from the funds. Plus, as always, commentary on the month's various winners and losers. Thank you for being an investor! // Team Protean Vend - The Rashomon Stock April 2026 • Written by Pontus Dackmo If there's a single position that embodies the Rashomon effect this month, it's Vend ((previously known as Schibsted)). Regular readers may recall our short case in the same stock from the October letter: network effects growing fragile, revenue growth dependent on ARPA hikes rather than volumes ((which presumed a behavioural stability we doubted)), management's dismissive tone towards AI disruption, and a stock at NOK 340 that priced in a potentially eroding durability. The stock fell 30%+ over the following months. Our witness was right. Case closed? Not so fast. In Kurosawa's film, the twist is that the same events genuinely look different depending on where you stand. And where we stand has evolved. Both we and the market have had time to digest the AI-impact, and our thinking has ev...
Eastern Institute of Technology, Ningbo, in Zhejiang province. Photo: IC photo Large-scale philanthropy directed at Chinese university foundations soared to record heights last year, surging past 12 billion yuan ($1.76 billion) on the back of massive concentrated gifts and private endowments. Total payments from large gifts — defined as single donations of 10 million yuan or more — hit 12.17 billi...
Eastern Institute of Technology, Ningbo, in Zhejiang province. Photo: IC photo Large-scale philanthropy directed at Chinese university foundations soared to record heights last year, surging past 12 billion yuan ($1.76 billion) on the back of massive concentrated gifts and private endowments. Total payments from large gifts — defined as single donations of 10 million yuan or more — hit 12.17 billion yuan in 2024, according to the 2024 Chinese University Foundations Large Donation Observation Report released by Mingshandao, a corporate social responsibility and philanthropy consultancy. The figure is roughly 2.3 times the 5.25 billion yuan raised in 2023, marking the highest level since systematic tracking began in 2015.
Earnings Call Insights: Emerson Electric Co. (EMR) Q2 2026 Management View "Underlying orders grew 5% in the second quarter" and "End market demand remains strong," with "Software & Systems orders" up "18% year-over-year" and "Ovation" orders up "41%," according to (President, CEO & Director Surendralal Karsanbhai). "Underlying sales growth of 0.5% was below expectation due to a 1-point impact fro...
Earnings Call Insights: Emerson Electric Co. (EMR) Q2 2026 Management View "Underlying orders grew 5% in the second quarter" and "End market demand remains strong," with "Software & Systems orders" up "18% year-over-year" and "Ovation" orders up "41%," according to (President, CEO & Director Surendralal Karsanbhai). "Underlying sales growth of 0.5% was below expectation due to a 1-point impact from the Middle East conflict," while "Adjusted segment EBITDA margin of 27.6%" and "adjusted earnings per share of $1.54" were delivered, and software "annual contract value" ended at "$1.64 billion," said (CEO Karsanbhai). "We are updating our full year guidance to reflect the impact of the conflict in the Middle East" and "now expect sales growth of 4.5% with underlying growth of 3%," while "raising the bottom and midpoint of our adjusted EPS guide, now expecting $6.45 to $6.55 per share," said (CEO Karsanbhai). "As a reminder, our first half financial results are adversely affected by a software contract renewal dynamic" that in Q2 impacted "sales growth by approximately 2 percentage points," "adjusted segment EBITDA margin expansion by 90 basis points" and "earnings per share growth by $0.09," said (Executive VP, Chief Accounting Officer & CFO Michael Baughman). Outlook "We are adjusting our full year guidance for sales to reflect the Middle East conflict and now expect full year underlying sales growth of approximately 3%," and "GAAP sales to increase approximately 4.5%," said (CFO Baughman). "Sales growth is expected to be approximately 5.5% with underlying sales growth of approximately 5%" in Q3, with "adjusted EPS of $1.65 to $1.70," said (CFO Baughman). Versus the prior quarter’s stance that Emerson was "reiterating our guidance of 5.5% sales growth" and "4% underlying sales growth," management now said it "modeled the conflict in the Middle East as a 1-point headwind" to 2026 sales and updated full-year sales growth to "4.5%" and underlying to "3%" (CEO Karsanbhai; ...
Earnings Call Insights: Finance of America (FOA) Q1 2026 Management View "The first quarter of 2026 was an outstanding quarter, with operational momentum in originations driving an acceleration of volumes, excellent profitability in our Portfolio Management segment, and steady improvement in our financial results, liquidity, and capital position" (Chief Executive Officer Graham Fleming). "Finance ...
Earnings Call Insights: Finance of America (FOA) Q1 2026 Management View "The first quarter of 2026 was an outstanding quarter, with operational momentum in originations driving an acceleration of volumes, excellent profitability in our Portfolio Management segment, and steady improvement in our financial results, liquidity, and capital position" (Chief Executive Officer Graham Fleming). "Finance of America generated net income of $35 million and adjusted net income of $26 million, or $1.10 per share" and "we funded $596 million in the quarter" (Chief Executive Officer Fleming). "I'm excited to see us rolling out a new second-lien reverse mortgage line of credit" and "the transaction has been modified to close in 2 distinct phases" with "the first phase... expected to close in May" and "the second phase... will follow as we continue to work with our primary regulator, Ginnie Mae, on the related approval" (Chief Executive Officer Fleming). "Overall originations were up 6% year-over-year" and "first quarter submissions reached a new high of $918 million" (President Kristen Sieffert). "HomeSafe Second... reached a high watermark in the quarter, increasing 32% year-over-year" (President Sieffert). "Helix is our proprietary, industry-first, end-to-end platform" and "Joy operating as the AI layer across that system"; "the deployment of AI is helping us" through improved matching and "improving our top-of-funnel marketing and resulting cost per lead" (President Sieffert). "Portfolio Management... generating $28 million in adjusted net income" and "performance was driven primarily by $1.7 billion of securitization activity"; "results benefited from favorable market conditions, including tight spreads and relatively lower interest rates" (Chief Financial Officer Matthew Engel). Outlook "For 2026, we are maintaining our funded volume outlook of $2.8 billion to $3.1 billion" (Chief Financial Officer Engel). "We're also increasing our guidance for full year adjusted earnings pe...
AMD: Server CPU revenue surpasses Intel for the first time, potential market doubles to $120 billion, but the true GPU boom is still in the second half of the year. Moomoo
AMD: Server CPU revenue surpasses Intel for the first time, potential market doubles to $120 billion, but the true GPU boom is still in the second half of the year. Moomoo